18,454 wells across 470 recorded operators, with 6,610 drilling permits filed in the 24-month window at summary refresh.
Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
Quick answer: The Permian Basin formation in New Mexico has 18,454 wells on record across 470 recorded operators, with 6,610 drilling permits filed in the 24-month window at source refresh. Its operators with the most wells on record are EOG Resources, Devon Energy Production Company, Mewbourne Oil Company, Permian Resources Operating LLC and Matador Production Company. Source: Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
The operators with the most well counts targeting the Permian Basin formation in New Mexico:
| # | Operator | Wells in Permian Basin |
|---|---|---|
| 1 | Eog Resources | 2,287 |
| 2 | Devon Energy Production Company | 1,668 |
| 3 | Mewbourne Oil Company | 1,436 |
| 4 | Permian Resources Operating LLC | 1,226 |
| 5 | Matador Production Company | 1,054 |
| 6 | Coterra Energy INC | 1,004 |
| 7 | Xto Energy | 969 |
| 8 | Oxy | 911 |
| 9 | Chevron | 723 |
| 10 | Hilcorp Energy Company | 583 |
The New Mexico counties with the most Permian Basin activity:
Lea, Eddy, Chaves, Roosevelt, De Baca
Drilling permits in New Mexico each year, the Permian Basin count and share of them, and the median lateral length of those Permian Basin permits.
| Year | State permits | This formation | Share | Median lateral |
|---|---|---|---|---|
| 2026 | 2,951 | 2,838 | 96.2% | 7,162 ft |
| 2025 | 4,706 | 3,669 | 78% | 10,105 ft |
| 2024 | 5,467 | 3,586 | 65.6% | 9,744 ft |
| 2023 | 4,438 | 2,889 | 65.1% | 9,103 ft |
| 2022 | 4,190 | 2,250 | 53.7% | 8,634 ft |
| 2021 | 4,967 | 959 | 19.3% | 8,081 ft |
| 2020 | 7,102 | 612 | 8.6% | 7,883 ft |
| 2019 | 6,850 | 798 | 11.6% | 7,344 ft |
Share of each year’s New Mexico drilling permits by target formation, for the formations with the most permits.
| Year | Permian Basin | Avalon-Bone Spring | Nw Shelf Perm-Penn Carbonate | Morrow | Pictured Clliffs | San Juan Basin |
|---|---|---|---|---|---|---|
| 2026 | 96.2% | — | — | — | — | 3.8% |
| 2025 | 78% | 5.2% | 2.4% | 8.7% | 0.2% | 3.5% |
| 2024 | 65.6% | 13.9% | 3.4% | 11.8% | 0.9% | 2.9% |
| 2023 | 65.1% | 12.1% | 2% | 9.8% | 6.1% | 2.7% |
| 2022 | 53.7% | 11.5% | 18.4% | 9.7% | 0.9% | 4.3% |
| 2021 | 19.3% | 36.2% | 15.8% | 24.3% | 0.1% | 2.2% |
| 2020 | 8.6% | 35.1% | 2.6% | 4.1% | 27.9% | 6.4% |
| 2019 | 11.6% | 32.9% | 29.5% | 5.7% | 2.2% | 3.1% |
Buckhead Energy computes every figure on this page from grouped records in public oil and gas data. The page shows counts, sums, percentiles and indexes only; it does not list individual wells, leases or permits.
Counts under 3 wells and percentiles under 5 wells are withheld; totals are floors.
Share is the formation’s permits as a percent of the state’s permits that year. Median lateral length is published only when at least 5 permits stand behind it.
Last computed: 2026-10-24. These figures are informational only and are not a valuation of any mineral or royalty interest.
The Permian Basin is a formation/play group recorded in New Mexico, with 18,454 wells on file across 470 distinct operators of record. Operators have filed 6,610 drilling permits targeting the Permian Basin in the 24-month window at summary refresh. These are stored records, not a live measure of drilling.
Recorded formation activity provides regional context. It does not establish ownership, future production, royalty payments or a value for an individual tract. Consult qualified professionals about your specific interest.
18,454 wells target the Permian Basin in New Mexico, worked by 470 recorded operators, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
The Permian Basin operators with the most wells on record in New Mexico are EOG Resources, Devon Energy Production Company, Mewbourne Oil Company, Permian Resources Operating LLC and Matador Production Company. The full ranking is in the table on this page. Formation summary date: 2026-10-24.
Operators filed 6,610 drilling permits targeting the Permian Basin in the 24-month window at source refresh, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
Operators filed 6,610 new drilling permits targeting the Permian Basin in New Mexico in the 24-month window at source refresh. New permits and spuds record reported activity stages; they do not establish ongoing drilling, per Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
Permian Basin activity in New Mexico includes 18,454 wells on record and 470 recorded operators, with 6,610 drilling permits filed in the 24-month window at source refresh — from Buckhead Energy analysis of public oil and gas data. Formation summary date: 2026-10-24.
The primary counties recorded for Permian Basin in New Mexico are Lea, Eddy, Chaves, Roosevelt, De Baca. Formation summary date: 2026-10-24.
Value depends on your net mineral acres or royalty decimal, the operator, the remaining drilling locations, and current oil and gas prices. This page is informational only, not a valuation. Formation summary date: 2026-10-24.
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Get Your Free Written OfferFormation: Permian Basin
State: New Mexico
Total wells: 18,454
Recorded operators: 470
Permits 24mo: 6,610
Summary date: 2026-10-24
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